5 Additional Companies Vying To Redevelop Mall

St. Charles — A Northbrook developer is no longer the leading candidate to redevelop the St. Charles Mall on the city's far west side, Mayor Fred Norris said this week.

The mall, at Illinois Highway 38 and Randall Road, is back on the market after Tucker Properties failed to meet a financing deadline, he said.

Five other parties have expressed interest in redeveloping the aging shopping center, the mayor said. Two of those parties are far along in negotiations, and an announcement could be forthcoming in January, he said.

The city has been hoping to attract a developer to the project for the last year, since the mall has suffered from vacant space and declining sales.

Tucker had asked the city to rebate $250,000 in sales tax revenue annually for 10 years as part of its proposal, but officials were reluctant to approve the deal.